Bitconnect (aka Sh!tconnect) Becoming the Black Swan - Now on HITBTC Exchange
As I stated in my last post, Bitconnect continues to surprise many, much to the chagrin of its 'haters.' I say 'haters' because many despise Bitconnect and its platform without even knowing what it is about. Some dislike the MLM aspect of the platform, which is only a part of its function but not necessary to participate and/or succeed. Others mock its Bitconnect coin which is now 100% officially trading on HitBTC, one of the largest cryptocurrency exchanges. The hate stems from the belief that Bitconnect and its platform is a ponzi scheme, a pyramid scam and its imminent failure (haters/naysayers predict) will discourage many from the crypto-currency market.
At this point, Bitconnect is just about 2% of Bitcoin's market cap, and less than 1% of the Overall Crypto-currency market cap. The belief that Bitconnect's current success to be followed by its ultimate Failure will "ruin" the world's taste for Bitcoin and crypto-currencies is baseless due to BCC's small fingerprint on the overall market. The fear that it will become a bigger failure that the Bernie Madoff scandal has many worried and spewing negativity with incorrect facts. Instead, what I see is potential opportunity for Bitconnect to grow to 5% or 6% of Bitcoin's Market Cap, for a nice 2x or 3x return on my money.
At this point Bitconnect continues to surprise many with its meteoric rise, while garnering the hate and dislike of proponents of other crypto-coins, tokens and platforms which they (the haters/detractors) feel are better than Bitconnect and its platform. What many have failed to take into consideration is that Bitconnect does have a viable working Business model that IS working. I will not go into the entire Bitconnect mechanism, but suffice it to say that they may have just figured out how to introduce crypto-currency to the masses while also turning a profit for itself and its investors. No one can Believe that Bitconnect can payout an average of 1% a day, yet everyone is Happy that Bitcoin, on average, has risen more than 3% per day in the past year without freaking about this anomaly.
There is a lot of good information out there on Bitconnect, both against it and for it. I have done my homework, and I even blogged quite a bit about Bitconnect as far as its background and what it is and is not. I have tried to be as impartial as I could be in order to provide true and accurate information about Bitconnect based on facts and not assumptions or beliefs. There is some information, such as its trading bot, that I obviously will not be able to ascertain or verify, but there is other information that helps in understanding Bitconnect that I provide.
Taking all the information I have put together in past posts as well as the current situation, and I believe that Bitconnect is becoming the Black Swan that was not expected nor wanted. Bitconnect continues to make headway in the crypto-currency world, and as I stated in my last blog about it, could easily find itself in the number 6 spot for Overall Market capitalization. It was real close to making it to No. 6, but instead has since climbed up two notches from #9 to #7 in overall Market Capitalization.
Don't be surprised if Bitconnect soon finds itself in that No. 6 spot, or if it really turns on it could land in the number 5 spot, You Never Know!!
11/2/17
@streetstyle
They said some pretty crazy things about BTC in the beginning. Haters gonna hate. LOL
In my opinion BCC is very interesting.
Today I'm investing USD 1100 at risk to see the results.
You are going for it @rtdcs Let me know if you have a sponsor, if not I would be glad to be your sponsor and return the favor with some steem!!
Thanks my friend.
Unfortunately I have already made the investment. I did it without sponsors, I went straight to the bitconnect site.
no problem @rtdcs If you want to add a sponsor, let me know. It helps me, then I reply in kind and equal with steem, which helps you. Cheers
I literally just posted a vlog about it on YT and shared on my steemit profile about bcc lol. Check it out if you're bored!
I'm not sure about BCC looks like a pozi system but i have to say something if people like it the coin or anything can survive. Regards man
According Vitalik it is a ponzi. But BitConnect is so full of its supporters too. I actually did a long analysis on this taking information from various sources. It's funny to see how the supporters claim how BitConnect is sustainable and wouldn't blow up. You can check my article if you like. It's got bunch of videos so might take some time to go through it all.
https://steemit.com/cryptocurrency/@vimukthi/trevon-james-vs-vitalik-buterin-in-depth-analysis-commentary-on-bitconnect
Personally I agree with Vitalik. But I've included both points of view. You can decide for yourself and hopefully you'd decide intelligently.
Dilly!! Dilly!! ReSteemed!
Yep bitconnect looks good now but is really risky i think about this too :)
Buying Bitcoin at $7100 is just as risky!! @valikos
Yes to buy now is risky and is more profit to buy some altcoins :)
ola, might move like 5% into it :)
I think that is a reasonable number to play/gamble with @brothermic
Also, are you planning to mine, stake, hodl or lend within the Bitconnect platform??
Aslo, if you need a sponsor/referrer, I can give back the signup bonus to you in steem.
well I was sceptic about it before but meaby short-term I might. Let me look further into it. If I am ready to do so, I'll give you a message to ask your link ;) or do i need to give in a name?
You can use a link or fill in the sponsor box when signing up, either way will work. So yeah, think about it and let me know if you have any questions. There are different strategies to consider with the Bitconnect platform, so if you need ideas/suggestions or any question answered, let me know.
just when i think bit connect cant keep going up, at this rate its going to threaten top 5 in no time
Seems like i missed that train too mate! Many of my friends were telling me to invest a little in bitconnect, but i was just thinking it was a scam after reading so much on it!
To be honest with you @progressivechef I still don't think you missed the train on Bitconnect But I also still think it is a highly speculative investment.
@streetstyle how to change sponsor in Bitconnect currently I have no sponsors and I don't know how I can change it please explain a bit.
@arunava Hello. Before, you could change it yourself but I believe they have changed that. If you don't have one, I believe you can create a support request ticket explaining to them that you "forgot" to include the name of your sponsor, give them the name, and they should fix for you. Let me know if you have any other questions.